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Indian Oil Corporation is losing about Rs 300 crore on an annualised basis
Saturday, October 04, 2008 www.hindustantimes.com
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Business
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State-run oil marketing and refining major Indian Oil Corporation is losing about Rs 300 crore on an annualised basis for every one dollar depreciation in the rupee, said Sarthak Behuria, chairman, IOC, at an industry function on Friday.
“The impact till now is Rs 1,200 crore,” Behuria said.
The company’s crude oil import bill is likely to touch $ 38-40 billion this fiscal against $34 billion
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